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FY2025
12 months to Dec 31, 2025
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|---|---|
| Cash flows from operating activities: | |
| Net loss | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |
| Stock-based compensation expense | |
| Non-cash operating lease expense | |
| Amortization of discount on marketable securities | |
| Non-cash expense related to IPR&D acquisition | |
| Depreciation expense | |
| Changes in operating assets and liabilities: | |
| Prepaid expenses and other current assets | |
| Accounts payable | |
| Accrued expenses and other current liabilities | |
| Operating lease liability | |
| Other assets | |
| Net cash used in operating activities | |
| Cash flows from investing activities: | |
| Purchases of property and equipment | |
| Purchases of marketable securities | |
| Maturities of marketable securities | |
| Net cash used in investing activities | |
| Cash flows from financing activities: | |
| Proceeds from initial public offering, net of underwriter discounts, commissions and offering costs paid during the period | |
| Proceeds from issuance of Series C convertible preferred stock, net of issuance costs | |
| Payment of deferred offering costs | |
| Exercise of common stock options | |
| Net cash provided by financing activities | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | |
| Cash, cash equivalents and restricted cash at beginning of period | |
| Cash, cash equivalents and restricted cash at end of period | |
| Supplemental disclosure of non-cash investing and financing activities: | |
| Conversion of convertible preferred stock into common stock upon closing of initial public offering | |
| Offering costs transferred to additional paid in capital | |
| Deferred offering costs in accrued expenses | |
| Reconciliation of cash, cash equivalents and restricted cash: | |
| Cash and cash equivalents | |
| Restricted cash |
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